Dynamic Retargeting Ads For Social Media Part of Musictoday’s Holiday Blog Post Series

What Are Dynamic Retargeting Ads?

Retargeting ads should be a fundamental element of any e-commerce company’s marketing strategy, especially during the holidays. If you spend any time on social media, chances are you’ve encountered retargeting ads, whether you realized that’s what they were or not. These ads often show up in the form of a product carousel and usually feature products that you have recently viewed or perhaps products similar or related to what you’ve recently viewed.

This type of retargeting ad is called a dynamic product ad and is especially common on Facebook and Instagram. By leveraging a product catalog, dynamic retargeting ads allow marketers to target shoppers who have visited their web store and feature products in the ad that are specific to each individual. You can use dynamic retargeting ads to complete conversions by showing products to store visitors that they have recently viewed but not purchased or you can use them to cross-sell or upsell products related to the items that purchasers have recently bought. Additionally, if your business has an e-commerce app, you can use deep linking in dynamic retargeting ads so that when a shopper clicks on a product featured in the ads, it opens in the app creating an easy and seamless checkout experience.

With so many options for social ad formats and targeting, it can be overwhelming when deciding what to use and it’s easy for valuable opportunities to be missed. Here are four big reasons why dynamic retargeting ads should be a part of your social marketing strategy, especially during the holidays.

1. Warm Audiences Are More Receptive Than Cold Audiences

This is an important concept to remember during the holidays. It can be tempting to want to focus on getting new traffic and advertising to prospect customers during the busiest time of year, but regardless of the season, warm audiences almost always convert at higher rates than cold audiences do. While acquiring new traffic is certainly important, and using what are usually your best deals of the year to do so can definitely be effective in building your customer base, your existing and returning customers are still a hugely important part of your business and you will always benefit from advertising to them. Dynamic retargeting ads are especially effective in converting customers who may not usually shop with your business for themselves but have visited your site while shopping for holiday gifts for loved ones. These ads will keep your products in front of them and increase your chances of securing their business.

2. Personalization Drives Sales

Dynamic retargeting ads allow you to advertise to your customers in a completely personalized way. Whether you are attempting to secure a sale from recent store visitors who have not yet purchased, or are cross-selling items related to what customers have recently purchased from your store, these types of ads are ideal. One of the biggest challenges in social media marketing is getting the right products in front of the right people. Dynamic retargeting ads allow you to run a completely tailored ad to each person who sees it which can be a huge time and money saver.

3. Minimizes Lost Conversions

In a time where online shopping is easier than ever and has become the norm for just about everyone, shoppers are becoming more and more savvy about how to find the best deals. This means that many shoppers take their time to browse and really consider the purchases they make. Often, shoppers will even add products to their cart as a holding place while they look for other deals or deliberate their decision to buy or not. Many times these potential sales can be lost as shoppers are distracted by other online activities or even other business’ ads for similar products. Dynamic retargeting ads allow your business to stay top of mind for these potential customers that are so close to converting. By reminding shoppers of the specific products they have shown interest in and allowing them to click through and complete the sale easily, you increase the likelihood of them purchasing from you rather than another retailer. Additionally, since these ads allow you to incorporate some of your own ad copy, dynamic retargeting ads also give you an opportunity to call out key selling points about your products that the shopper may have initially missed, or even offer a discount that will further incentivize the potential customer to convert.

4. Easy and Cost Effective Way to Advertise Entire Inventory

As mentioned previously, one of the biggest challenges that many businesses face in social marketing is getting the right products in front of the right people. For e-commerce businesses with a robust inventory or a wide variety of products, this is especially true. It can be extremely costly and time-consuming to create separate ads and audiences for each department or collection of products. Dynamic retargeting ads can be a huge lifesaver in this area. By employing these personalized ads to show your customers specific products that they have already expressed interest in, you have the ability to essentially run dozens of ads to dozens of targeted audiences (if not more) from a single ad campaign and budget. This saves a lot of time and wasted dollars spent presenting your ads to customers who aren’t interested in what you’re showing them.

If you haven’t started utilizing the power of dynamic retargeting ads in your social marketing strategy yet, hopefully these insights help to get the ball rolling! They are one of the easiest and most effective social ad types that you could employ and this critical window just before the holiday season kicks off is the perfect time to start.

If you’d like to learn more about incorporating dynamic retargeting ads into your marketing strategy, send us a note and let’s chat!

About the Author: Kaylah Rodriguez is a Social Media Marketing Specialist at Musictoday. She manages both organic and paid social campaigns, as well as sweepstakes and giveaways.